Company: myTU

Founders: Raman Korneu, Tomas Navickas

Headquarters: Vilnius, Lithuania

Most Recent Valuation: €35m, based on a €10m Series A funding round in March 2025.

Employees: 27

Founded: 2019

In One Sentence: “myTU is a fully automated, AI-native and cloud-first digital bank offering smart, secure, and affordable financial services to both consumer clients and businesses.”

Top quote: “This is not fintech. This is the future of money, engineered from the ground up to be smarter, faster, and infinitely more human.”

Who are you building your product/service for, and what painful problem are you taking away from their day?

We’re building this product for anyone who wants a truly modern digital bank with everything that entails: great exchange rates, rapid transfers, and a fully mobile experience with different types of accounts for different needs. We’re providing an alternative for people who want or need to bypass their local banking system for whatever reason.

If a top-tier VC is reading this, what would you want them to understand about your company in 30 seconds?

myTU isn’t just a bank - it’s a living, breathing ecosystem powered by AI and cloud-first thinking. Every transaction, every transfer, every interaction is automated, intelligent, and seamless. Businesses connect directly through APIs, parents manage kids’ accounts effortlessly, and users interact with finance in ways they never thought possible. We obsess over every millisecond, every byte of data, every interface - because banking should feel invisible and intuitive. This is not fintech. This is the future of money, engineered from the ground up to be smarter, faster, and infinitely more human.

What are you doing differently than your competitors?

Not all digital banks are built alike. We’re fully automated, AI-native, and cloud-first. We’ve developed a robust set of APIs that let businesses build custom integrations tailored to their operational needs. They can create and sign payment orders directly within internal systems, removing the need for manual input. For parents, we have accounts built specifically for kids. We’ve managed to create a digital bank that perfectly balances individual and business needs.

How did you meet, and why have you partnered with each other on this business?

Raman Korneu: The inception of myTU was an amalgamation of experiences, industry insights, and a clear gap in the market. Having spent 25 years in the banking sector, I've been part of over 40 capital markets and M&A deals, providing me with an unparalleled vantage point. During my tenure in traditional banking, I was intrigued by the rise of Fintech and envisioned a transformative bank. My initial efforts to secure investors were met with challenges. However, the tides turned when potential investors who resonated with my vision approached me. Yet, while we had a comprehensive grasp of the banking domain, our team lacked technical prowess. This gap was bridged when I met Tomas in 2019, and together, we embarked on the myTU journey.

Tomas Navickas: Two primary motivations propelled myTU's foundation. First, observing market trailblazers like Revolut highlighted the potential and attainability of our vision. Despite their significant strides, a vast segment of the European market remained untouched, hinting at untapped potential. Second, our unique insights into niche sectors, especially the “mobile” customers, revealed a considerable finance gap. Our differentiation was clear - while giants like Revolut had massive teams and resources, we viewed our leaner setup as our strength. Our efficiency wasn't just a by-product; it was intentional. We aimed to achieve self-sustainability rapidly, leveraging our nimbleness as our unique edge in the fintech space.

What was the “this has to exist” moment that made you start the company?

I’ve worked in finance and banking for my entire professional life, but the idea behind myTU took shape after I joined a fintech company focused on consumer lending as a CFO. At the same time, it felt like everything was coming together technologically in order to create a digital bank that could serve everybody. My co-founder Tomas Navickas and I figured that if we took advantage of cloud-only infrastructure and AI, we could make consumer and business banking more accessible, secure, and cost-effective. The rest is history.

How do you make money? Which part of your business model are you most excited about scaling?

We make money through multiple transaction and volume-based revenue streams on the business side.

We charge fees and commissions across core payment services such as account opening, instant transfers and business cards as well as more advanced infrastructure products like API-based pay-ins and payouts built on SEPA Instant, SEPA Direct Debit and global remittances. In addition, we generate revenue from embedded banking solutions including Account-as-a-Service and Card-as-a-Service.

For individual customers, we offer accounts, cards, and instant transfers, with revenue coming from top-ups, withdrawals, and a monthly card service fee. Global remittances for individuals are launching soon and will add another scalable revenue stream.

The part I’m most excited about scaling is our ability to deliver this full stack with a very small team. By using AI and cloud-native infrastructure, we can scale transaction volume and revenue without scaling headcount - something traditional banks can only achieve with thousands of employees.

Which proof points matter most right now?

We’re a bank, so we like hard numbers. At present, we serve over 70,000 retail customers across 500+ legal entities. Last year, we processed over €1 billion in transactions.

How does your product/service make the world a better place?

We’re built on the philosophy that open banking is the way forward to a better, safer, and more inclusive financial future. Through our open banking structure, we can collaborate with fintechs, data providers, and other infrastructure players to create smarter, more seamless financial experiences for more people. Yes, we’re bringing more value to a broader range of different clients, but we’re also creating financial inclusion and opportunity for underbanked people.

We are also using AI to expand accessibility. While we are strong in business banking, there is a clear usability gap for certain user groups, such as elderly users or children. One initiative we are exploring is an AI agent embedded directly into the app, offering two modes: a standard interface and a fully AI-driven, voice-first experience with no buttons or menus. Users can simply speak to send money, find past payments, or receive step-by-step guidance. This serves as a concrete example of how our AI-native approach can unlock new use cases and audiences.

What’s been your biggest unexpected challenge so far, and what did it force you to learn quickly?

I don’t know if our biggest challenges have been unexpected. In fact, they’ve been consistent. When you’re working with open banking and operating under EU passporting rules, you’re held to the highest standards in terms of AML, KYC, and data protection. Every integration with a third party requires rigorous vetting and continuous monitoring, all without ever compromising security, user consent, and regulatory integrity. Mistakes are simply not allowed, and we’ve needed to build for that accordingly.

What does success look like in 12 months? What about in 5 years?

In 12 months, success means we are consistently executing on our strategy of integrating automation and AI to improve efficiency, scalability, and operational reliability. We are closely monitoring technological developments and selectively adopting the most practical, high-impact tools. Team growth is deliberate and controlled, aligned with clear business priorities, while maintaining strong cost discipline.

From a product perspective, we have made measurable progress in our key focus areas: international money transfers, corporate payment card programs, and a comprehensive suite of payment services for both businesses and retail customers. Our solutions are successfully deployed or in advanced rollout stages across multiple platforms, including logistics, consumer lending, travel, and e-commerce, demonstrating strong product-market fit and steady transaction growth.

In five years, success means we have obtained a banking license, enabling us to fully realize our long-term vision. This allows us to accept deposits, significantly expand our lending capabilities, and broaden our overall financial services offering. The banking license becomes a key enabler for scalable, cross-border growth.

By this stage, automation and AI are deeply embedded across the organization, supporting efficient scaling, robust risk management, and continued cost effectiveness. Our payment and financial services are widely integrated across industries and digital platforms, serving businesses and consumers in multiple markets. We are recognized as a trusted, technology-driven financial institution with a strong foundation for international expansion and sustainable long-term growth.

What type of partner or collaborator would most accelerate your journey right now? (If relevant, which roles are you hiring for?)

Visa and Mastercard for real-time global payouts (Visa Direct & Mastercard Cross-Border Services) and cross-border corporate payments (enabled through Visa B2B Connect).

Finish this sentence: “We’ll know we’ve really made it when…”

…myTU runs quietly in the background of millions of lives, powering billions in transactions, making banking invisible, effortless, and magical. That’s when we’ve arrived.”

Website: www.mytu.co

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